Alphabet Inc. earns a Strong Buy rating as its turnaround is complete and the market underappreciates its transformation. GOOGL's cloud backlog surged to $462.3B, with over $230B expected to materialize by mid-2028, supporting high-margin, recurring revenue growth. Alphabet's entry into silicon sales, targeting 10% of Nvidia's revenue, and major deals with Anthropic and Meta signal a new high-value business line.